Child Trust Fund

1. Overview

A Child Trust Fund (CTF) is a long-term tax-free savings account for children.

You can’t apply for a new Child Trust Fund because the scheme is now closed. You can apply for a Junior ISA instead.

If you already have a Child Trust Fund

You can continue to add up to £4,128 a year to your CTF account. The money belongs to the child and they can only take it out when they’re 18. They can take control of the account when they’re 16.

There’s no tax to pay on the CTF income or any profit it makes. It won’t affect any benefits or tax credits you receive.

Find your provider

You can find out where a CTF’s held if you don’t know the provider. Fill in the form online to ask HM Revenue and Customs (HMRC). You’ll need to sign in to your Government Gateway account or register for one.

HMRC will contact you for more information if you’ve adopted the child or a court has given you parental responsibility for them.